PAPUA NEW GUINEA

Income Tax, Dividend (Withholding) Tax and Interest (Withholding) Tax Rates (2019 Budget)(Amendment) Act 2018.

No: 23 of 2018.
Certified on: 30 JAN 2019

ARRANGEMENT OF SECTIONS.
1. General rates of income tax on taxable income payable by resident persons other than companies (Amendment of Schedule 1).
2. General rates of income tax on taxable income payable by non-resident persons other than companies (Amendment of Schedule 1A).

AN ACT
entitled
Income Tax, Dividend (Withholding) Tax and Interest (Withholding) Tax Rates (2019 Budget)(Amendment) Act 2018,
Being an Act to amend the Income Tax, Dividend (Withholding) Tax and Interest (Withholding) Tax Rates 1984,
MADE by the National Parliament and deemed to come into operation on 1 January 2019.
1. GENERAL RATES OF INCOME TAX ON TAXABLE INCOME PAYABLE BY RESIDENT PERSONS OTHER THAN COMPANIES (AMENDMENT OF SCHEDULE 1).
Schedule 1 of the Principal Act is amended ‑
	(a) in the heading of Table 3 by repealing the words "and onwards" and replacing them with the following:
	"to 31 December 2018"; and
	(b) by inserting a new Table 4 as follows:
	"Table 4 - Rates of Tax for the period 1 January 2019 and onwards.
Column 1.
Parts of Taxable Income.	Column 2.
Percentage.	
The part of the taxable income that ‑		
Does not exceed K12,500.00	0	
exceeds K12,500.00 but does not exceed K20,000.00	22	
exceeds K20,000.00 but does not exceed K33,000.00	30	
exceeds K33,000.00 but does not exceed K70,000.00	35	
exceeds K70,000.00 but does not exceed K250,000.00	40	
exceeds K250,000.00.	42	

2. GENERAL RATES OF INCOME TAX ON TAXABLE INCOME PAYABLE BY NONRESIDENT PERSONS OTHER THAN COMPANIES (AMENDMENT OF SCHEDULE 1A).
Schedule 1A of the Principal Act is amended ‑
	(a) in the heading of Table 3 by repealing the words "and onwards" and replacing them with the following:
	"to 31 December 2018"; and
	 (b) by inserting a new Table 4 as follows:
	"Table 4 - Rates of Tax for the period 1 January 2019 and onwards.
Column 1.
Parts of Taxable Income.	Column 2.
Percentage.	
The part of the taxable income that -		
Does not exceed K20,000.00	22	
exceeds K20,000.00 but does not exceed K33,000.00	30	
exceeds K33,000.00 but does not exceed K70,000.00	35	
exceeds K70,000.00 but does not exceed K250,000.00	40	
exceeds K250,000.00.	42	

I hereby certify that the above is a fair print of the Income Tax, Dividend (Withholding) Tax and Interest (Withholding) Tax (2019 Budget)(Amendment) Act 2018, which has been made by the National Parliament.
Clerk of the National Parliament.
30 JAN 2019

I hereby certify that the Income Tax, Dividend (Withholding) Tax and Interest (Withholding) Tax Rates (2019 Budget) (Amendment) Act 2018, was made by the National Parliament on 20 November 2018.
Acting Speaker of the. National Parliament.
30 JAN 2019